One owner has 8 tax foreclosures. Post 114

Tax Foreclosure Notices UP

Mount Desert Islander Bar Harbor, ME    November 28, 2008

BAR HARBOR – The owners of 39 properties were notified last week that the town will foreclose on their houses, lots or commercial structures unless delinquent property taxes are paid by Dec. 22. The number of properties facing foreclosure is more than double that of last year, when 16 notices were sent out.

The property owners who are facing foreclosure are those who initially became delinquent in 2006. In June 2007, the town placed liens on their properties. Now, 18 months later, the lien period is up and foreclosure is the next step in the process.

Of the properties being foreclosed on, eight are owned by the same person. Four others are listed under the ownership of someone who is deceased, and two are under bank foreclosure.

While the number of foreclosure notices has more than doubled since 2006, Mr. Harmon was quick to point out that they represent a very small number of the total properties in town. “There are 3,500 parcels, so you’re talking about a tenth off a percent that are still unpaid,” he said.

Tax assessor Steve Weed said that he has not seen any indications of economic trouble in Bar Harbor. Property values have, on the whole, not actually risen in value in the past couple of years.

The volume of property sales in Bar Harbor has dropped markedly from that of a few years ago,…

See the entire story: http://mdislander.com/site/index.php?option=com_content&task=view&id=8122&Itemid=36

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Coach Mitch’s REFLECTIONS

 

Yes, foreclosures are up in Maine

Just like almost everywhere else, tax foreclosures are UP dramatically in Maine. There are opportunities anywhere that folks are having issues.

Legal inside information – the new gold

But that’s not the lesson. This article reveals the kinds of legal inside information that you get when looking in the right places.

If you had been working Coach Mitch’s “Ridiculously Simple System…”,

• then you would have known who the owners of all the properties that were tax delinquent.

• You would have known about those eight properties that were owned by only one owner.

• You would have known about those properties that were owned by an estate.

• You would have know that the bank owned properties which it was allowing to go to the tax auction.

Info is important

The real value to Coach Mitch’s “Ridiculously Simple System…” is that you learn how to get the good information well before almost anyone else.

Action is vital

• Having good information is not “the be all and end all.”

• What good is having the information if you don’t act on it and in a timely manner?

• It is as if you found a way to buy General Electric stock at 30% of its current stock price – but you didn’t do anything about it.

Being cautious is fine, but

when you don’t do something in your own interest because you fear that “something” could go wrong, then that is the definition of shooting yourself in the foot. I have a good question. What good is a bleeding foot?

The only way to improve your financial situation is to take a chance!

If you have the information then you can determine what you want to do with it. You don’t have to do anything or you can pursue those particular situations that you think have merit.

Legal inside info gives you the advantage

All you need do is contact the owner and see if they are going to pay the property taxes? If not, then you can offer your assistance to help in the situation. If you talk, one person to another, you will find that most folks will respond favorably.

The lesson

A quick look at the tax delinquent data base would show that some owners of multiple properties have not paid their taxes. If you contacted these owners, there is a great chance that you would have made a deal.

A thoughtful person, looking at the tax delinquent data base would see that some of the properties going to tax auction were owned by estates. Those who inherit property often have no interest in the property and do not know the value of it. Some of your best deals will be with those who have no use for the property which nice, old, dead Uncle Henry left them. To the inheritor, it is a headache; they don’t want to pay the taxes and would love to take a few dollars to be rid of a problem.

Similarly, the tax delinquent list would show a bank as the owner and we know that banks do not let property go unless they have no interest or unless the property is of no value – to them. Might this lead be worth a phone call – prior to the tax auction?

This is a great example of what I mean by my System being Ridiculously Simple- anyone can think of these simple techniques, and many others.

Coach Mitch’s “Ridiculously Simple System…” is a sure way to real estate riches. If you have the will, then the System shows the way.

See Coach Mitch’s “Ridiculously Simple System…” ™ for details.

Git’er done.